Need Advice PLEASE

[childpsych23]

Hi Everyone,
I'm in need in some advice. This is my second time applying. I was offered admissions to Loyola Uni. Chicago about 2 months ago. They kept telling me they didn't know the funding packet and would get back to me. I got a call last night from the DCT saying that they don't have any funding for me. I have to pay tuition out of pocket for the next 5 years. There's the possibility I could be paid out of a grant, but not a guarantee. I've been excepted into PsyD and MSW/MPH programs, but I really want to do my PhD. However, the prospect of taking out 200,000 or more in loans seems like insanity. Any advice?

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[thewesternsky]

I have no advice, but that really, really sucks. I would expect better of Loyola, especially because according to their full disclosure data all previous accepted students have been fully funded. I'm sorry this has happened. Have you talked to your advisor about the grant possibility?

If the grant funding didn't work out, I guess I would decline and try again the next year (which is rough, I know, especially since this was your second round already...)

 

[deleted176373]

Hi Everyone,
I'm in need in some advice. This is my second time applying. I was offered admissions to Loyola Uni. Chicago about 2 months ago. They kept telling me they didn't know the funding packet and would get back to me. I got a call last night from the DCT saying that they don't have any funding for me. I have to pay tuition out of pocket for the next 5 years. There's the possibility I could be paid out of a grant, but not a guarantee. I've been excepted into PsyD and MSW/MPH programs, but I really want to do my PhD. However, the prospect of taking out 200,000 or more in loans seems like insanity. Any advice?

This really depends on what YOU want to do. Taking out loans is insanity, UNLESS you have a plan to get them paid off (working on an Indian reservation, joining the military, or some post-doc positions.)

Why do you want a Ph.D. over a Psy.D.? If I had to chose between a funded Psy.D. and an unfunded Ph.D. I would go to the Psy.D. program... If they were both unfunded? I would look at what I planned on doing in 10 years... If I wanted to be an academic, then the Ph.D. is the obvious choice as a practitioner, I might go the Psy.D. route at a upper tier program if that's an option.

It's about getting your money's worth as well as your career trajectory. You need to be brutally honest with yourself here.

Mark